Employee Benefits in Bulgaria 2017
The National Social Security Institute (NSSI) is responsible for managing all the social security schemes in the Republic of Bulgaria. It administers mandatory social security schemes such as sickness, maternity, occupational diseases, workplace accidents, disability, old-age and survivor’s pensions. Irrespective of whether a person is employed, unemployed or self-employed, Bulgarians are covered under certain social security schemes. In Bulgaria, the pension system is classified into four pillars: the pay-as-you-go (PAYG) public pension insurance scheme, which is mandatory; supplementary compulsory pension insurance, which is divided into the Universal Pension Fund and the Professional Pension Fund; voluntary pension funds; and voluntary occupational schemes regulated by the Institutions for Occupational Retirement Provision (IORP) directive. Voluntary occupational schemes are managed by pension fund companies.
The report provides in-depth industry analysis, information and insights of the employee benefits in Bulgaria, including: overview of the state and compulsory benefits in Bulgaria, detailed information about the private benefits in Bulgaria, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Bulgaria.
- State and compulsory employee benefits are mandatory. Old-age and survivor's pensions, unemployment, accident insurance, occupational disease insurance, family benefits and sickness care insurance are the main compulsory forms of cover.
- Private pension benefits are classified as voluntary pension funds and voluntary occupational schemes.
- The institutions and the activities of social security schemes are subject to mandatory regulation, which is implemented by the Council of Ministers and the Parliament in support with the representative organizations of employers and workers and other organizations of civil society.
- Under the regulation of the Financial Supervision Commission, the operations of the second and the third schemes are administered by private insurance companies.
Reasons to buy
- This report provides a detailed analysis of employee benefits in Bulgaria.
- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
- It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, medical benefits, workmen's compensation insurance, maternity and paternity benefits, family benefits, unemployment, leave and private benefits
- It highlights the economic and regulatory situations relating to employee benefits in Bulgaria.
- Make strategic decisions using in-depth information related to employee benefits in Bulgaria.
- Assess Bulgarian employee benefits market, including state and compulsory benefits and private benefits.
- Gain insights into the key employee benefit schemes offered by private employers in Bulgaria.
- Gain insights into key organizations governing Bulgarian employee benefits, and their impact on companies.